SKIPPER LIMITED INVESTOR PRESENTATION Q4 & 12 M FY’21 Results

Q4 & 12 M PERFORMANCE, 2020 - 21

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D I S C L A I M E R

This Investor Presentation has been prepared by Skipper Limited for investors, solely for informational purposes. The information contained herein has been prepared to assist prospective investors in making their own evaluation of the Company and does not purport to be all-inclusive or to contain all of the information a prospective or existing investor may desire. In all cases, interested parties should conduct their own investigation and analysis of the Company and the data set forth in this information. Skipper makes no representation or warranty as to the accuracy or completeness of this information and shall not have any liability for any representations (expressed or implied) regarding information contained in, or for any omissions from, this information or any other written or oral communications transmitted to the recipient in the course of its evaluation of the Company. This Information includes certain statements and estimates provided by the Company with respect to the projected future performance of the Company. Such statements, estimates and projections reflect various assumptions by management concerning possible anticipated results, which assumptions may or may not be correct. No representations are made as to the accuracy of such statements, estimates or projections. Prospective investors will be expected to have conducted their own due diligence investigation regarding these and all other matters pertinent to investment in the Company. This presentation may contain statements that are not historical facts, referred to as “forward looking statements.” The corporation’s actual future results may differ materially from those suggested by such statements, depending on various factors including statements contained in the Company's filings with the Stock Exchanges and our reports to shareholders. The Company does not undertake to update any written or oral forward-looking statements that may be made from time to time by or on behalf of the Company

W H O W E A R E

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Company is India’s largest and world's only Integrated T&D company having its own Structure rolling, manufacturing, Tower Load Testing Station &

Transmission Line EPC.

S K I P P E R : O N E - S T O P S O L U T I O N P R O V I D E R

M I S S I O N

Engineering products

Capacity: 300,000 MTPA

• Power Transmission Tower

• Power Distribution Poles

• Monopoles

• MS & High Tensile Angles

• Solar Structures

• Fasteners

• Tower Accessories

• Railway Structures

Highlights

Positioned as one of the world's leading transmission tower manufacturer; largest in India

Polymer products

Capacity: 51,000 MTPA

• UPVC Pipes

• CPVC Pipes

• SWR Pipes

• HDPE Pipes

• Fittings

Highlights

• Only polymer pipe company in India to implement TOC in its operations

Infrastructure projects

• Transmission Line EPC

• Railway Electrification EPC

• Underground Utility laying by HDD

Highlights

• Forward integration activity

• Aimed at high-margin projects

P R O D U C T O F F E R I N G S

SKIPPER LIMITED Performance Update

Q4 & 12M FY’21 Update

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F i n a n c i a l P e r f o r m a n c e Q 4 ’ 2 1

Sl Profit & Loss Summary Q4 FY’21 Q4 FY’20 Change %

1 Revenues 4,973.5 4,388.5 13.3%

2 Reported EBITDA 427.9 272.0 57.3%

EBITDA Margins 8.6% 6.2%

3 (+) Other Income 23.8 3.0

4 (-) Depreciation 116.4 96.8

5 (-) Finance Cost 209.5 198.6 5.5%

Finance Cost as % to Revenue 4.2% 4.5%

6 Profit Before Tax (2+3-4-5) 125.9 (20.4)

PBT Margins 2.5% -0.5%

7 Tax 35.0 (294.3)

8 Profit After Tax (8-9) 90.8 273.9 -66.8%

PAT Margins 1.8% 6.2%

Rs in Mn

B U S I N E S S R E P O R T C A R D

Reported EBITDA includes derivative and foreign exchange Gain / (loss) of Rs 14.6 mn & (Rs 194.5 mn) in Q4 Fy’21 & Q4 Fy’20 respectively

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F i n a n c i a l P e r f o r m a n c e F Y ’ 2 1

Sl Profit & Loss Summary FY’21 FY’20 Change %

1 Revenues 15,815.1 13,905.1 13.7%

2 Reported EBITDA 1,437.1 1,391.3 3.3%

EBITDA Margins (%) 9.1% 10.0%

3 Other Income 40.2 19.6

4 Depreciation 452.6 381.0

5 Finance Cost 723.6 847.6 -14.6%

Finance Cost as % to Revenue 4.6% 6.1%

6 Profit Before Tax (2+3-4-5) 301.2 182.3 65.2%

PBT Margins (%) 1.9% 1.3%

7 Tax 90.4 (232.6)

8 Profit After Tax (8-9) 210.8 414.9 -49.2%

PAT Margins (%) 1.3% 3.0%

Rs in Mn

B U S I N E S S R E P O R T C A R D

Reported EBITDA includes derivative and foreign exchange Gain / (loss) of Rs 279.1 mn & (Rs 155.1 mn) in FY’21 & FY’20 respectively

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Rs in Mn

3,386 3,133

2,998

4,388

2207

4036

4598

4974

Q1 Q2 Q3 Q4

FY 20 Fy 21

C o n s i s t e n t & I m p r o v e d R e v e n u e P e r f o r m a n c e Tr e n d A c h i e v e d 1 4 % r e v e n u e g r o w t h ( Y o Y ) i n F Y ’ 2 1 d e s p i t e o f c o v i d r e l a t e d l o c k d o w n & c h a l l e n g e s

- 35 %

29 % 53 %

13 %

• Increased focus on Engineering Exports – Full year export revenue achieved Rs 3,506 mn Vs 1,488 mn in FY’20 (+136%)

• Strong traction in Polymer business led to improved performance – Full Year Revenue Rs 2,165 mn Vs Rs 1,363 mn in FY’20 (+59%)

3,665

792 517

3,565

438 385

Engg Polymer InfraQ4 Fy'21 Q4 FY'20

Achieved highest ever net revenue quarter in

polymer segment

4,974

4,388

Q4 FY '21 Q4 FY'20

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P E F R O R M A C E H I G H L I G H T S – Q 4 F y ’ 2 1

Stand Alone - Revenue

13%

Segment - Revenue

+ 3 %

+ 81 % + 34 %

Strong Revenue Performance across all business segments

Rs in Mn Rs in Mn

• Engineering exports increased to Rs 1,246 mn vs Rs 321 mn in Q4 FY’20 (+ 288%) • Revenue pie from Polymers increased from 10 % to 16%

Engg 76%

Polymer 14%

Infra 10%

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S e g m e n t P e r f o r m a n c e Q 4 & 1 2 M F Y ’ 2 1

S E G M E N T R E P O R T

Revenue Mix – 12M FY’21

Note: Segment Operating EBITDA is net of Forex and includes allocation of un-allocable expenditure in pro-rata share of Sales & Capital Employed in their respective segment

SegmentProfit & Loss

SummaryQ4 FY'21 Q4 FY'20 Change % 12M FY'21 12M FY'20 Change %

Net Sales 3,665.0 3,565.0 2.8% 11,986.2 11,425.5 4.9%

EBITDA - Operating 364.5 429.0 -15.0% 1,057.0 1,452.1 -27.2%

% of Sales 9.9% 12.0% 8.8% 12.7%

Net Sales 791.9 438.2 80.7% 2,165.4 1,363.2 58.8%

EBITDA - Operating 46.5 30.9 50.5% 70.5 55.5 27.0%

% of Sales 5.9% 7.1% 3.3% 4.1%

Net Sales 516.6 385.4 34.0% 1,663.5 1,116.4 49.0%

EBITDA - Operating 2.3 6.5 -64.2% 30.5 38.9 -21.6%

% of Sales 0.5% 1.7% 1.8% 3.5%

Net Sales Total 4,973.5 4,388.6 13.3% 15,815.0 13,905.1 13.7%

EBITDA Total 413.3 466.4 -11.4% 1,158.0 1,546.5 -25.1%

% of Sales 8.3% 10.6% 7.3% 11.1%

Engg

Products

PVC

Products

Infra

Projects

Total

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Debt Details

31.03.2021 31.03.20 Inc / (Dec)

Long Term Debt 2,563 1,569 994

Current Maturities of Long Term Debt

586 344 242

Total Long Term Debt 3,149 1,913 1,236

Short Term Debt 1,236 2,624 (1,388)

Gross Debt Level 4,385 4,537 (152)

Debt Equity Ratio (X) 0.62 0.66 (0.04)

Rs in Million

E f f i c i e n t D e b t M a n a g e m e n t

Gross Debt reduced by Rs 152 million during the period, on account of better working capital utilisation.

Reduction in overall finance cost by 15 % in compare to previous year 12 months period, despite of growth in revenue.

Efforts continues on cash flow & balance sheet consolidation, focus to improve bottom-line profitability

Skipper became World’s only Integrated T&D company having its own structure rolling, Tower & Pole manufacturing, Tower Load Testing Station & Transmission Line EPC under the same brand.

Fully operationalized state of art Transmission Line Tower Testing Station (DSIR recognised).

First Company in India and one of the first in world to have successfully designed, fabricated and type tested a 400 KV / 765 KV S/C Monopole

The Company’s external credit rating has been assigned as “A-”/Stable by ACUITE against CARE BBB+ on account of improved operational & financial performance in conjunction with better growth prospects.

Company opened its marketing office in Canada and even secured its first ever Tower & Monopole orders from North American markets

Only polymer product manufacturing company to implement Theory of Constraints (TOC) in an organized manner, Retailer touch points increased 10(X) fold in last 2 year period

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K E Y P E F R O R M A C E H I G H L I G H T S

Performance Update Key Highlights

Awards & Recognition

Business Leadership Award conferred to our MD Sri Sajan Kumar Bansal by CMA Management Excellence Awards (March 21)

Awarded with " Best Award Brand" by World Marketing Congress (March 21)

Awarded with "West Bengal Best Employer Award" by 15th Employer Branding Awards (March 21)

Awarded with “Dream Companies to Work” by Economic Times National Feather Award (April 21)

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P E F R O R M A C E H I G H L I G H T S

Strong Revenue performance across all the business segments ; Achieved highest ever quarterly revenue performance in Q4 in Polymer segment

Focus continues on Bottom-line improvement; PBT grew significantly in compare to previous year quarter and 12 months period

Interest cost as % of sales reduced to 4.6 % against 6.1 % in previous year

Secured new orders of Rs 3,810 million in Q4 FY’21 for Engineering products supplies from PGCIL, SEB’s, Telecom and for supplies across various export markets ; YTD inflow at 8,750 million

Actively pursuing projects worth Rs 27,000 million on international front and about Rs 11,000 million on the Domestic front

Stronger expected execution in both Engineering & Polymers segment going forth coupled with Productivity and cost reduction initiatives at the plant and site level are expected to further improve efficiency in operations and aid to stable margins

Unprecedented commodity price rally in our Key raw material items (i.e Steel, Zinc & Resin), higher ocean freight rates and Non Clarity of Remission of Duties and Taxes on Export Products (RoDTEP) adversely impacted profitability

FY’21 - Performance Update

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S t r o n g B i d d i n g P i p e l i n e

Strong Bidding Pipeline of 38,000 Million as on 31st March 2021;

International – 27,000 Mn & Domestic - 11,000 Mn

• Expecting International Ordering & Execution to gain pace in FY’22;

• In advanced Stages of negotiation to secure some good size International contract

• Large pent up demand in domestic T&D ; Ordering continues to remain muted

• Increased focus on building up Engineering capabilities

International

Growing global competiveness; Focusing on international markets to drive the ordering growth;

Strong Anti China Sentiment; and global supply chain now actively looking for reducing their dependence on China is a great positive outcome of this crisis ; will bring more opportunities on our way

Majority of New Transmission lines are now getting built to cater renewables; leading to shorter execution cycle and faster supplies to meet project deadlines.

Domestic

After a 2 years lull, The domestic T&D actvities are showing signs of rebound

Large bunching up of order that remained postponed + Rs 500,000 million of GEC related projects to come up for bidding will provide much needed boost to the domestic transmission industry

Tender Pipeline continues to stay strong, Many tenders in the domestic T&D market which got postponed, largely GEC related projects – now expected to be concluded by H1’22 .

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E n g i n e e r i n g P r o d u c t s – O r d e r B o o k C o m p o s i t i o n – M a r 2 0 2 1

O R D E R B O O K P I E

88%

9% 3%

T&D Telecom Railways

Total Order Book Rs 16,020 million

Domestic – 67% Export – 33%

T&D Order Book Rs 14,120 million

22%

40%

38%

PGCIL SEB & Others Export

T&D Breakup

440

2,200 2,300

3,810

Q1 Fy'21 Q2 FY'21 Q3 FY'21 Q4 FY'21

Rs

in M

iilio

n

FY’21 Qtr Wise - Order Inflow

Total – Rs 8,750 million

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O R D E R B O O K P I E

E n g i n e e r i n g P r o d u c t s – O r d e r I n f l o w C o m p o s i t i o n

YTD inflow at Rs 8,750 million (Rs 12,410 mn in FY’20) was lower than usual due to the following reasons –

A large percentage of orders available in the market are on fixed price basis and company is adopting a cautious approach in new order intake considering the present volatile commodity market scenario

Majority of New Transmission lines are now getting built to cater renewables; leading to shorter execution cycle and faster supplies to meet project deadlines.

Bid to - order life cycle prolonged due to covid led disruption

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M a c r o F a c t o r A f f e c t i n g I n p u t C o s t

Billet Domestic INR /MT

LME Zinc USD / MT

Rs/ MT

46 %

USD/ MT

47%

Source – Steelmint

Source – IMF

26,400 27,643 28,254 27,904

29,875 29,577 30,540

33,998

37,120

38,056 35,346

38,579

25,000

30,000

35,000

40,000

Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21

Domestic Billet Prices Rs per MT (Ex Raipur)

1,903 1,975

2,026

2,177

2,414 2,442 2,441

2,672 2,782

2,705 2,745 2,792

1,800

2,200

2,600

3,000

Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21

Zinc LME USD per MT

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M a n a g i n g R M P r i c e V o l a t i l i t y

Mitigation Strategy

Securing Newer Contracts at elevated price level

Taking advantage of low working capital debt level of company to keep higher raw material inventory so that a larger portion of the fixed price contracts are covered with the inventory

Hedging Zinc & Flat Steel Exposure through Vendor & commodity exchange

Negotiating firm prices contract with raw material supplier for longer duration

Expanding Raw material supplier base

Forging Tie-ups with major raw material suppliers with minimum up-liftment commitment to gain maximum possible rebates and discounts.

The company is taking all necessary steps to tackle & neutralise the impact of this temporary RM volatility issues in its Fixed Type Contracts and protect margins -

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B u s i n e s s O u t l o o k

P E R F O R M A N C E O U T L O O K

Company expects to clock double digit annual revenue growth in FY’22 on back of strong pending execution of engineering contracts and strong polymer segment performance;

Expect good traction in International TL orders, While pending domestic TL ordering bids are expected to start getting awarded by Q1’22 / Q2’22

Focus on mechanisation and automation along with several cost reduction initiatives to further improve efficiency in operations and aid to stable margins

Implementation of TOC in both Engineering and Polymer business to significantly improve its working capital cycle and bottom-line profitability

Continuing efforts to further strengthen the international T&D order book ; positioned to grow exports to 50% of engineering revenue in next 2 years

Tweet dated 03rd May 2021

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S h a r e h o l d i n g P a t t e r n

Promoters 71.89%

Mutual Funds 1.85%

Foreign Portfliio Investors

8.97%

Others 17.29%

S h a r e h o l d i n g p a t t e r n a s o n 3 1 s t M a r c h 2 1

M a j o r I n s t i t u t i o n a l S h a r e h o l d e r s A s o n 3 1 s t M a r c h 2 1

Name %

Ocean Dial Asset Management India (ICGF) 5.33%

Baillie Gifford - Pacific Horizon Investment Trust

2.72%

IDFC Sterling Value Fund 1.85%

Polus Global Fund 0.78%

Fully Integrated In-House Research & Development Centre

Future Ready

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F U T U R E R E A D Y

For the first time ever, all new large T&D projects in domestic markets comes along with Design and Load testing scope; Our new R&D centre will give us distinct advantage over competition.

Skipper boasts of largest Tower & Monopole Load Testing Station in India, which is also one of the largest in the world.

Started Operations in the state of art Transmission Line Tower Testing Station is spread across 14 acres of land in Howrah, West Bengal commissioned in March’20.

Approved and recognized by Dept. of Scientific and Industrial Research (DSIR), Govt. Of India.

One of the largest Testing facilities of India and first of its kind in Eastern India

Capable of Full scale load testing, a reliable tool for validating the structural design

The facility is designed to Test all kinds of Lattice Towers, Monopoles & Guyed Towers with World Class Technical Parameters

Ultimate Destination for OHTL Contractors & Manufacturers for Prototype Testing

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T r a n s m i s s i o n L i n e To w e r Te s t i n g S t a t i o n

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T r a n s m i s s i o n L i n e To w e r Te s t i n g S t a t i o n

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For any queries please contact:

Aditya Dujari (Investor Relations)

Skipper Limited 3A, Loudon Street, 1St Floor, Kolkata 700 017

E-Mail: aditya.dujari@skipperlimited.com Tel: + 91 33 2289 2327/5731 Mobile: 9830806906